Welcome to our dedicated page for Canadian Manganese Company news (Ticker: CDMNF), a resource for investors and traders seeking the latest updates and insights on Canadian Manganese Company stock.
Canadian Manganese Company Inc. (CDMNF, CBOE CA: CDMN) issues regular news updates covering its exploration activities, project financing, governance decisions, and regulatory matters. The company’s releases emphasize the advancement of the Woodstock manganese project, which includes the adjacent Plymouth and Hartford deposits near Woodstock, New Brunswick, and the inclusion of the Cobequid IOCG property in Nova Scotia through its subsidiary Mongoose Mining Ltd.
News items frequently discuss quarterly and interim financial results, highlighting net losses, interest and accretion on convertible debentures, share-based compensation, and corporate development expenses. These reports also summarize the carrying values of exploration and evaluation assets allocated between the Woodstock project and the Cobequid IOCG property, giving readers insight into how the company accounts for its mineral interests.
Financing-related announcements are a recurring theme. Canadian Manganese has reported on a non-brokered private placement of senior secured convertible debentures, proposed and revised gross revenue royalty arrangements on the Woodstock project with Leventis Capital Pte Ltd., and proposed offerings of flow-through shares to fund Canadian Exploration Expenses and flow-through mining expenditures. Updates often describe how such financings are intended to support project advancement, working capital, and the repayment of outstanding debentures.
Corporate and regulatory developments also appear in the company’s news flow. Examples include the results of its annual and special meeting of shareholders, changes in board leadership, participation in the Team Canada Critical Minerals Investment Mission, and the issuance of a failure-to-file cease trade order by the Ontario Securities Commission when annual filings were delayed. Investors and observers can use this news page to follow how Canadian Manganese reports on its projects, capital structure, and regulatory status over time.
Canadian Manganese (CDMN) has announced a delay in filing its required year-end 2024 financial documents, leading to a cease-trade order from the Ontario Securities Commission on April 4, 2025. The delay stems from two key factors: the postponed closing of a previously announced royalty financing and the need to consolidate financial statements with its subsidiary Mongoose Mining
The audit delay was primarily caused by late payments of previous year's auditor fees by both CDMN and Mongoose, which has now been resolved through director loans. McGovern Hurley LLP, the company's auditor, couldn't complete both audits by the March 31, 2025 deadline. The company expects to file the required documents by end of April 2025.
The cease-trade order prohibits trading of CDMN securities in Canada, with an exception for certain beneficial securityholders who acquired shares before April 4, 2025, allowing them to sell through foreign organized regulated markets via registered investment dealers.
Canadian Manganese Company (CBOE CA: CDMN) has revised its royalty financing agreement with Leventis Capital, now structured as a single 2% Gross Revenue Royalty (GRR) transaction for US$10 million, expected to close by November 28, 2024. The company will have a buyback option for US$15 million, requiring additional payments every three years if not exercised. At their annual meeting, shareholders approved increasing stock option plan reserves to 20%, restricted share unit plan to 5%, and elected new directors. John Allan has been appointed as the new Board Chair, replacing John Kearney who remains a director.
Canadian Manganese Company (CBOE CA: CDMN) has released its Q3 2024 financial results, reporting a loss of $860,926, compared to a loss of $374,506 in Q3 2023. The quarterly loss includes interest expense on convertible debenture of $182,841, accretion expense of $267,428, and corporate development expenses of $94,507. The company continues to advance its Woodstock manganese project in New Brunswick. As of September 30, 2024, CDMN's exploration and evaluation assets were valued at $17,545,804, with the Woodstock project accounting for $10,517,949 and subsidiary Mongoose's Cobequid IOCG property valued at $7,027,855.
Canadian Manganese Company Inc. (CBOE CA: CDMN) has reported its financial results for the second quarter ended June 30, 2024. The company recorded a loss of $768,601, which included interest expense on convertible debenture of $178,658, accretion expense on convertible debenture of $237,170, and corporate development expenses of $87,040. This compares to a loss of $454,592 in the previous year's second quarter.
CDMN's main focus remains on advancing the Woodstock manganese project in New Brunswick. As of June 30, 2024, the company held exploration and evaluation assets valued at $17,484,799, including the Woodstock project ($10,456,944) and the Cobequid IOCG property in Nova Scotia ($7,027,855).
The company has also provided an update on its royalty financing agreement with Leventis Capital Pte The initial plan to sell a 3% gross revenue royalty for US$15,000,000 has been modified to two separate transactions of 1.5% each for US$7,500,000. The first tranche is expected to close by the end of August 2024.
Canadian Manganese (CBOE CA: CDMN) announced its Q1 2024 financial results, reporting a net loss of $736,276 compared to $492,804 in Q1 2023. Key expense contributors included $179,223 in interest on convertible debt, $217,151 in accretion expense, and $92,906 in corporate development expenses. The company holds exploration and evaluation assets valued at $17,444,529, primarily focused on the Woodstock manganese project in New Brunswick. Additionally, Canadian Manganese agreed to a 3% gross revenue royalty on the Woodstock Project for $15 million, expected to close by May 2024. This will enable the redemption of a $5 million convertible debenture. The company also granted 3 million stock options to its management and service providers, exercisable at $0.10 per share until May 2029.
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